WATCH LIVE | Finance minister Tito Mboweni to address challenges facing the economy

Finance minister Tito Mboweni will address challenges facing the economy hard hit by a recession, Covid-19, and sovereign credit rating downgrades.

This follows President Cyril Ramaphosa’s announcement of a R500bn economic package to ease the pressure.

The minister will be joined by National Treasury executives.

Economists have welcomed the socio-economic relief measures.

Economist Xhanti Payi said the government had done well to offer relief to the most vulnerable in terms of cash and vouchers to stave off hunger.

“Had the government not moved in a significant way, it may have led to unrest and the violation of the lockdown,” Payi said in a note on the stimulus package.